Question

1. Let X be a discrete random variable. If Pr(X<6) = 1/5, and
Pr(X>6) = 1/7, then **what is Pr(X=6)?**

Please specify your answer in decimal terms and round your answer to the nearest hundredth (e.g., enter 12 percent as 0.12).

2. A department store manager has monitored the number of complaints received per week about poor service. The probabilities for numbers of complaints in a week, established by this review, are shown in the table.

Number of complaints | 0 | 1 | 2 | 3 | 4 | 5 |
---|---|---|---|---|---|---|

Probability | 0.20 | 0.29 | 0.26 | 0.12 | 0.05 | 0.08 |

**What is the probability of between 1 and 3 (inclusive)
complaints received per week?**

Please specify your answer in decimal terms and round your answer to the nearest hundredth (e.g., enter 12 percent as 0.12).

Note that the correct answer will be evaluated based on the full-precision result you would obtain using Excel.

3. A department store manager has monitored the number of complaints received per week about poor service. The probabilities for numbers of complaints in a week, established by this review, are shown in the table.

Number of complaints | 0 | 1 | 2 | 3 | 4 | 5 |
---|---|---|---|---|---|---|

Probability | 0.13 | 0.21 | 0.44 | 0.07 | 0.06 | 0.09 |

**What is the mean of complaints received per
week?**

Please round your answer to the nearest hundredth.

Note that the correct answer will be evaluated based on the full-precision result you would obtain using Excel.

4. Let X be a discrete random variable. If Pr(X<9) = 3/8, and
Pr(X<=9) = 7/16, then **what is Pr(X=9)?**

Please specify your answer in decimal terms and round your answer to the nearest hundredth (e.g., enter 12 percent as 0.12).

Answer #1

1. A department store manager has monitored the number of
complaints received per week about poor service. The probabilities
for numbers of complaints in a week, established by this review,
are shown in the table.
Number of complaints
0
1
2
3
4
5
Probability
0.16
0.26
0.35
0.10
0.08
0.05
What is the standard deviation of complaints received
per week?
Please round your answer to the nearest hundredth.
2. A department store manager has monitored the number of
complaints...

1. A corporation produces packages of paper clips. The number of
clips per package varies, as indicated below for a sample of 20
packages.
50
53
49
51
50
48
51
52
50
48
52
47
49
52
51
53
50
47
48
51
Create a histogram.
How many packages contain between 48 and 52 clips
(inclusive) per package?
Please specify your answer as an integer.
2. A corporation produces packages of paper clips. The number of
clips per package...

A department store manager has monitored the number of
complaints received per week about poor service. The probabilities
for numbers of complaints in a week, established by this review,
are shown in the table.
Number of complaints
0
1
2
3
4
5
Probability
0.15
0.20
0.41
0.11
0.06
0.07
What is the mean of complaints received per
week?
Please round your answer to the nearest hundredth.
Note that the correct answer will be evaluated based on the
full-precision result...

A department store manager has monitored the number of
complaints received per week about poor service. The probabilities
for numbers of complaints in a week, established by this review,
are shown in the table. Number of complaints 0 1 2 3 4 5
Probability 0.16 0.26 0.35 0.10 0.08 0.05 What is the median of
complaints received per week? Please round your answer to the
nearest integer. Note that the correct answer will be evaluated
based on the full-precision result...

Returns on stocks X and Y are listed below:
Period
1
2
3
4
5
6
7
Stock X
9%
6%
1%
8%
-1%
3%
10%
Stock Y
-2%
9%
5%
12%
-1%
6%
5%
Consider a portfolio of 80% stock X and 20% stock Y.
What is the (population) standard deviation of portfolio
returns?
Please specify your answer in decimal terms and round your
answer to the nearest thousandth (e.g., enter 12.3 percent as
0.123).
Note that the correct...

1.
Returns on stocks X and Y are listed below:
Period
1
2
3
4
5
6
7
Stock X
1%
5%
-2%
5%
3%
12%
3%
Stock Y
7%
5%
10%
5%
1%
-3%
10%
What is the correlation of returns on the two
stocks?
Please round your answer to the nearest hundredth.
Note that the correct answer will be evaluated based on the
full-precision result you would obtain using Excel.
2.
Returns on stocks X and Y are...

Linear Combinations
2)
Returns on stocks X and Y are listed below:
Period 1 2 3 4 5 6 7
Stock X 4% 7% -2% 40% 0% 10% -1%
Stock Y 2% -5% 7% 4% 6% 11% -4%
Consider a portfolio of 10% stock X and 90% stock Y.
What is the mean of portfolio returns?
Please specify your answer in decimal terms and round your
answer to the nearest thousandth (e.g., enter 12.3 percent as
0.123).
3)
Returns on...

The completion times for a job task range from 9.6 minutes to
18.8 minutes and are thought to be uniformly distributed. What is
the probability that it will require between 13.7 and 17.1 minutes
to perform the task? Please specify your answer in decimal terms
and round your answer to the nearest hundredth (e.g., enter 12
percent as 0.12).
Major league baseball game durations are normally distributed
with a mean of 160 minutes and a standard deviation of 30 minutes....

The completion times for a job task range from 9.8 minutes to
18.4 minutes and are thought to be uniformly distributed.
What is the probability that it will require between
13.5 and 17.5 minutes to perform the task?
Please specify your answer in decimal terms and round your
answer to the nearest hundredth (e.g., enter 12 percent as
0.12).

Returns on stocks X and Y are listed below:
Period
1
2
3
4
5
6
7
Stock X
9%
5%
6%
-2%
1%
-3%
11%
Stock Y
-4%
3%
10%
7%
5%
-3%
2%
Consider a portfolio of 40% stock X and 60% stock Y.
What is the mean of portfolio returns?
Please specify your answer in decimal terms and round your
answer to the nearest thousandth (e.g., enter 12.3 percent as
0.123).

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